Jaguar axes supercar

Hybrid hypercar a victim of Euro crisis.

After declaring it to be more advanced than the ground-breaking Bugatti Veyron, Jaguar has killed its C-X75 hybrid supercar before it was born.

Jaguar brand manager Adrian Hallmark said the decision to axe the project was brought on by the financial crisis in Europe and a need to invest the money in more mainstream models.

"We feel we could make the car work, but looking at the global austerity measures in place now, it seems the wrong time to launch an ?800,000 ($1.2 million) to ?1 million supercar ($1.5 million)," Hallmark told Britain's Autocar. "This is backed up by other products from us that people are screaming out for."

As recently as September, Hallmark told Drive that work was well-advanced on the project, with prototypes being built and testing set to get under way.

Hallmark said the development carried out on the C-X75, including its 1.6-litre, four-cylinder petrol engine and hybrid drivetrain, would not be wasted. It is likely to be carried over to future Jaguar models, including the new F-Type sports car.